Tax Court Settles the Score on Sports Collectibles Activity in Tampa, Florida

Tax Court Settles the Score on Sports Collectibles Activity

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Are you a collector of antiques, artifacts or other goods? If your passion evolves into a full-fledged business with a profit motive, you may use a resulting tax loss to offset other income on your return. However, if the IRS classifies the activity as just a hobby — as it...
Not Saving Enough for Retirement in Tampa, Florida?

Not Saving Enough for Retirement?

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Surveys repeatedly show that many Americans are not saving enough for retirement. That’s a shame. Not only are they risking a financially-insecure future, they are overpaying their taxes. Don’t let this happen to you. Here are some facts you should know: You are...
Important Tax Figures for 2015

“Bunch” Miscellaneous Itemized Deductions to Reduce Your Tax Bill

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Many expenses that may qualify as miscellaneous itemized deductions are deductible for regular tax purposes only to the extent they exceed, in aggregate, 2% of your adjusted gross income (AGI). Bunching these expenses into a single year may allow you to exceed this “floor.” So...